Brown & Brown (NYSE:BRO) Given New $117.00 Price Target at Bank of America

Brown & Brown (NYSE:BRO) had its price target hoisted by analysts at Bank of America from $116.00 to $117.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 13.18% from the company’s current price.

A number of other equities research analysts have also recently commented on BRO. Wells Fargo & Company lifted their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Jefferies Financial Group upped their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Down 1.6 %

Shares of Brown & Brown stock opened at $103.38 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown has a 12 month low of $75.79 and a 12 month high of $114.15. The business has a fifty day simple moving average of $105.51 and a 200 day simple moving average of $104.08. The stock has a market cap of $29.56 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Research analysts predict that Brown & Brown will post 3.74 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mackenzie Financial Corp raised its position in Brown & Brown by 85.7% during the 2nd quarter. Mackenzie Financial Corp now owns 69,812 shares of the financial services provider’s stock worth $6,242,000 after purchasing an additional 32,226 shares during the last quarter. Ascent Group LLC bought a new position in Brown & Brown during the 2nd quarter worth $233,000. Creative Planning raised its position in Brown & Brown by 69.7% during the 2nd quarter. Creative Planning now owns 29,780 shares of the financial services provider’s stock worth $2,663,000 after purchasing an additional 12,236 shares during the last quarter. NewEdge Advisors LLC raised its position in Brown & Brown by 2.5% during the 2nd quarter. NewEdge Advisors LLC now owns 19,556 shares of the financial services provider’s stock worth $1,748,000 after purchasing an additional 484 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Brown & Brown by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 19,634 shares of the financial services provider’s stock worth $1,755,000 after purchasing an additional 491 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.